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Increasing disruption, diminishing returns, and demanding customers require business leaders to create more value, remain relevant, and stay ahead of competition. CEOs must evolve a "value creation" culture for the company in order to properly balance the interests of customers, employees, investors, and the marketplace. People who succeed, succeed because they create value, but they do so unconsciously. Creating value consciously makes you create more value and destroy less value. Doing something good or improving the well-being of someone creates value. You buy and re-buy a product on a value basis. Value dominant logic is relevant to all of us. Value creation is used in all fields, but is not well understood. This book takes value creation to the next level, showing how value is basic to human endeavor and is not focused on enough even when we try to create value. Most books on value creation focus on creating monetary value for companies. This book suggests that value is greatly created and enhanced by creating value for others. To create value for customers, one must first create value for the providers, including employees, suppliers, and the society at large. The goal is to improve the quality of life and well-being. This book provides ways of implementing these thoughts and educates readers about value and how to create it.
Service-Dominant Logic presents a major paradigm shift in thinking about value creation and markets, moving from a ‘goods/product’ logic to a logic that treats the process of service provision as the basis of all exchange, both commercial and social. This timely Handbook brings together chapters written by a stellar cast of expert authors from around the globe, arranged around eleven core themes, to provide a comprehensive overview of key issues, developments, debates and potential future directions for this dynamic field of study: Part 1: Introduction and Background Part 2: Value Cocreation Part 3: Service Exchange Part 4: Service Ecosystems Part 5: Institutions and Institutional Arrangements Part 6: Resources and Resource Integration Part 7: Actors and Practices Part 8: Innovation Part 9: Midrange Theory Part 10: Selected Applications Part 11: Reflections and Prospects This Handbook is an essential reference text for scholars, students, consultants and advanced practitioners across a wide range of business & management practices and academic disciplines.
The first accessible introduction to the principles and applications of Service-Dominant Logic, written by the world-leading authors of this perspective.
Presents a paradigm for the marketing discipline that is service-oriented, customer-oriented, relationship-focused, and knowledge-based, and places marketing, once viewed as a support function, central to overall business strategy. This book elaborates on this model to provide insight and commentary.
Increasing disruption, diminishing returns, and demanding customers require business leaders to create more value, remain relevant, and stay ahead of competition. CEOs must evolve a "value creation" culture for the company in order to properly balance the interests of customers, employees, investors, and the marketplace. People who succeed, succeed because they create value, but they do so unconsciously. Creating value consciously makes you create more value and destroy less value. Doing something good or improving the well-being of someone creates value. You buy and re-buy a product on a value basis. Value dominant logic is relevant to all of us. Value creation is used in all fields, but is not well understood. This book takes value creation to the next level, showing how value is basic to human endeavor and is not focused on enough even when we try to create value. Most books on value creation focus on creating monetary value for companies. This book suggests that value is greatly created and enhanced by creating value for others. To create value for customers, one must first create value for the providers, including employees, suppliers, and the society at large. The goal is to improve the quality of life and well-being. This book provides ways of implementing these thoughts and educates readers about value and how to create it.
The Routledge Handbook of Service Research Insights and Ideas offers authoritative coverage of current scholarship in the expanding discipline of service research. Original chapters from the world’s leading specialists in the discipline explore foundations and innovations in services, highlighting important issues relating to service providers, customers, and service design. The volume goes beyond previous publications by drawing together material from different functional areas, including marketing, human resource management, and service process design and operations. These topics are important in helping readers become knowledgeable about how different functional areas interact to create a successful customer experience. This book is ideal as a first port of call for postgraduate students desiring to get up to speed quickly in the services discipline. It is also a must-read for academics new to services who want to access cutting-edge research.
This book reports on cutting-edge research and best practices in developing innovative service systems. It covers issues concerning the suitability of a given system for human use, human services, and excellent human experiences. It explores a wide range of ways in which human factors in engineering, ergonomics, human–computer interaction (HCI), cognitive engineering, and many other disciplines can contribute to the design and management of service systems. It considers aspects related to cost effectiveness, ethics, and privacy, among others, and covers applications in many areas, from healthcare to education, transportation, and the economy. Based on the AHFE 2020 Virtual Conference on the Human Side of Service Engineering, held on July 16–20, 2020, the book provides readers with a comprehensive overview of current research and future challenges in the field of service engineering, together with practical insights into the development of innovative services for various kinds of organizations.
The Value Imperative is about understanding and creating value to become more prosperous, otain higher levels of success as a business and as a person, and become a better executive, manager, and leader. The book describes value and its creation, a practitioner concept that encompasses all aspects of human endeavor and happiness and covers different aspects of value, and how they impact you, business, society, technology, innovation and creativity, and education. The book demonstrates how to identify where value exists, how it can be increased, how it is destroyed and dissipated, and how it can re-emerge. The author also describes the 6As required of successful executives.
In this visionary book, C. K. Prahalad and Venkat Ramaswamy explore why, despite unbounded opportunities for innovation, companies still can't satisfy customers and sustain profitable growth. The explanation for this apparent paradox lies in recognizing the structural changes brought about by the convergence of industries and technologies; ubiquitous connectivity and globalization; and, as a consequence, the evolving role of the consumer from passive recipient to active co-creator of value. Managers need a new framework for value creation. Increasingly, individual customers interact with a network of firms and consumer communities to co-create value. No longer can firms autonomously create value. Neither is value embedded in products and services per se. Products are but an artifact around which compelling individual experiences are created. As a result, the focus of innovation will shift from products and services to experience environments that individuals can interact with to co-construct their own experiences. These personalized co-creation experiences are the source of unique value for consumers and companies alike. In this emerging opportunity space, companies must build new strategic capital—a new theory on how to compete. This book presents a detailed view of the new functional, organizational, infrastructure, and governance capabilities that will be required for competing on experiences and co-creating unique value.
This book is based upon and extends the theoretical and empirical work of the author over the last decade. It integrates material deriving from his previous conceptual and empirical work in this field, together with new empirical evidence from emerging research. Public Service Logic challenges the product-dominant assumptions of the New Public Management (NPM) about the nature and management of public service delivery. Whilst the NPM has led to some important developments in public management, it has also had significant limitations and weaknesses. The book presents an alternative to this, as a framework for the future delivery and reform of public services globally. It draws upon the extant literature in the field of service management to argue for a Public Service Logic (PSL) for the delivery of public services. This situates public service delivery within the vibrant and influential field of service-dominant research and theory. It argues that effective public service management requires both that these services are understood as services not as products and that, consequently, public service management requires a focus on value creation as its over-arching rationale. The book presents a major new framework of value creation for public service delivery as a basis for public service reform, explores the role of service managers and staff and of citizens and service users in this value creation process, and evaluates the implications of this new framework for both the strategic and operational management of public service delivery, their performance management and the development and innovation of new forms of public services. It will be of interest to researchers and students in the fields of public management and public administration, as well as to policy makers and public service managers.